Japan has agreed to raise its quota for South Korean laver imports by more than twofold over the next 10 years that will create new demand for local producers, the government said Wednesday.
  

The Ministry of Oceans and Fisheries said under a new agreement reached with its Japanese counterpart, the quota will be raised 225 percent from 1.2 billion sheets this year to 2.7 billion sheets in 2025.
  

This translates into exports rising 150 million sheets every year in the next decade, it said.

  
The ministry added that 2.7 billion sheets are worth $120 million, or equal to 40 percent of all laver exports this year, which are expected to reach around $300 million.
  

Under the revised pact, Tokyo agreed to allocate half of its quota to dried laver products that are particularly in high demand. Of these, 35 percent will be seasoned seaweed.
  

In addition, Japan has agreed to improve its procedures for importing South Korean laver, which in the past drew fire for being a sort of non-tariff barrier.
  

Japanese authorities were slow to post the amount of laver the country planned to import and held irregular import-related meetings that have hindered trade.
  

The ministry said that South Korea and Japan have similar food cultures that can create steady demand for locally made agrofishery goods.
  

"The latest agreement is expected the help the government meet its annual $500 million laver export goal and contribute to more earnings for local fishing communities," it said. (Yonhap)